Evonik acquires the Pharmaceuticals business of SurModics, Inc.
After acquisition of RESOMER business further expansion of Pharma Polymers activities
Evonik Industries AG has reached an agreement to acquire the Pharmaceuticals business of SurModics, Inc. headquartered in Eden Prairie, Minnesota, USA. Signing took place on November 1, 2011 and the transaction is expected to close shortly. Following the acquisition of the RESOMER® business from Boehringer Ingelheim in March 2011, Evonik is now strengthening the formulation services business for pharmaceutical applications. The new acquisition enables Evonik to further develop its health care business.
“Evonik is a strategic partner and one of the world’s leading solution providers to the pharmaceutical industry. By acquiring the polymer and formulation services businesses of SurModics we continue to expand our position in this important market”, said Dr. Klaus Engel, Chairman of Evonik Executive Board.
SurModics Pharmaceuticals, Inc., an affiliate of SurModics, Inc., is a leader in injectable drug delivery systems. The new business includes two world-class facilities for the development and manufacturing of polymers and drug delivery systems. The company is located in Birmingham (Alabama, USA) and employs, approximately 80 pharmaceutical experts. In 2010, the total revenues amounted to more than 15 million U.S. dollars.
“With the Lakeshore Biomaterials™ portfolio of polymers and associated range of established formulation development services, we acquire leading expertise and capabilities for the development and manufacturing of innovative drug delivery solutions. This is a consistent extension of our current pharmaceutical product and service platform”, emphasizes Dr. Jean-Luc Herbeaux, head of the Health Care business at Evonik.
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